S&P assigns A+ to Pepsi Singapore notes

S&P said it assigned its A+ issue-level rating to PepsiCo Singapore Financing I Pte. Ltd.'s planned senior unsecured notes with final amounts and maturities to be determined. The issuer’s parent PepsiCo Inc. will guarantee the notes.

“All of our ratings on PepsiCo, including our A+ long-term issuer credit rating, are unchanged. The outlook is stable. Recently established PepsiCo Singapore is a finance subsidiary, which has no assets or operations other than as related to the issuance, administration, and repayment of any debt securities that the issuer may sell,” S&P said in a press release.

PepsiCo will use the proceeds for general corporate purposes, including to repay commercial paper borrowings.

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